Fund Administrator RFP Scorecard

A fund administrator RFP scorecard turns “biggest fund administrators” curiosity into a buyer sheet: scope, fees, reporting, tax packaging, technology, and escalation—scored the same way for every vendor. Emerging managers need this before logo lists become the decision.

Buyer ops for GPs evaluating admin—not legal or investment advice. Product paths: SPV, Fund. Fees: fees. Team: team. Related: How to evaluate fund administrators and Fund admin buyer guide for emerging managers.

RFP scorecard (0–5 each)

1. Scope before brand size

“Biggest” is not a score. A global admin optimized for $1B+ PE funds may be slow or expensive for emerging-manager deal SPVs. Score whether they actually run your vehicle type. Allocations focuses on emerging-manager SPV/fund admin—start at /spv or /fund.

2. Fees without folklore

On Allocations (fetched 18 Sep 2026 from /fees): Standard SPV $9,950 one-time; Premium SPV $19,500 one-time; Fund $19,500/year; 0% platform carry. Additional fees may apply.

For every other admin, write “verify on their current pricing page” or attach their quote PDF. Do not invent competitor fees in the scorecard.

3. Tax packaging and reporting are first-class rows

Ask who owns W-9/W-8 storage, preparer inputs, and LP delivery. General IRS partnership context (not tax advice): IRS Form 1065. Confirm with counsel and preparer.

4. Banking and KYC controls

Wire instruction release, remitter matching, and vehicle-named accounts belong on the scorecard. Allocations banking path: /banking. Admin definition: What SPV administration includes.

5. How to run the RFP in two weeks

1. Send the table above to three vendors.

2. Require written fee SKUs within five business days.

3. Run the same wire-to-ledger demo script on each.

4. Score independently before the sales call.

5. Shortlist two; book Allocations via /team if you want the emerging-manager path walked.

Practical GP checklist

1. Print the scorecard; forbid logo-only decisions.

2. Fill Allocations rows from live /fees.

3. Mark blanks as verify—not guess.

4. Include tax and banking rows every time.

5. Keep counsel in the loop on offering path (SEC Regulation D).

What this scorecard is not

• Not a ranking of the “biggest” admins.

• Not a guarantee any vendor fits every fund.

• Not investment advice.

FAQ

Why not just hire the biggest fund administrator?

Size ≠ fit. Score scope, fees, tax packaging, and close-week support for your vehicle size.

How do Allocations fees enter the scorecard?

Allocations published fees (fetched 18 Sep 2026 from allocations.com/fees): Standard SPV $9,950 one-time; Premium SPV $19,500; Fund $19,500/year; 0% platform carry. Additional fees may apply.

What is the most skipped RFP row?

Tax packaging ownership and close-week escalation contacts.

Should SPV and fund RFPs differ?

Yes—multi-asset funds need broader reporting and call mechanics; deal SPVs need sharp close ops. Compare /spv vs /fund.

Where do I start with Allocations?

/team.

Ops appendix (close hygiene)

Keep one shared folder for the OA PDF hash, signed subscriptions, side letters, tax forms, KYC evidence, wire instruction versions, and the ownership register. Name files with ISO dates. When economics change, re-issue the deal narrative and the OA together so LPs never hold mismatched PDFs. When banking details change, notify only cleared LPs through the same channel you used for the original instructions. Quote published platform fees into expense language rather than inventing numbers in chat. For Allocations live SKUs see fees. For vehicle banking readiness see banking. For human walkthroughs see team. For product start see SPV. For program vehicles see fund.

Confirm offering path and entity choices with counsel; confirm tax packaging timelines with your preparer. Maintain a single close sheet that reconciles subscription amounts to cleared funds before you update the ownership register. Do not publish wire instructions before the vehicle account is live. Do not admit a member whose remitter name cannot be explained. Archive fee invoices against the OA expense clauses after each close. This appendix is operational hygiene for emerging GPs and syndicate leads—not legal, tax, securities, or investment advice.

Second-pass controls

Re-read the soft-circle list against legal names the day before wires. Confirm W-9 or W-8 forms match subscriber type. Confirm side letters are visible to admin. Confirm the accreditation file matches the offering path counsel selected. Confirm the tax contact list is complete before October if you expect K-1 packaging. If you are stacking multiple near-identical SPVs for the same LP base, schedule a fund-SKU comparison meeting before the next formation. Keep demos honest: ask every vendor to walk wire-to-ledger, not only dashboard screenshots.